Wing Hang Bank First in Hong Kong to Use First Ecom.com's Payment Processing Solution

Business Wire, May 31, 2000

Business Editors

HONG KONG--(BUSINESS WIRE)--May 31, 2000

First Ecom.com (NASD OTC BB: FECC, BSX: FECC, FECC BH), a global provider of electronic payment processing systems, today announced that Wing Hang Bank will be the first bank in Hong Kong to offer its merchants the benefits of the First Ecom payment processing solution.

This outsourcing arrangement will give Wing Hang Bank the ability to offer its merchants real-time authorization for Internet credit card purchases by using First Ecom's solutions. The encryption standard used by First Ecom includes 128-bit SSL and OpenPGP, providing high-level security to consumers by preventing card, buyer, and merchant fraud.

"This is a landmark step in the provision of secure and efficient Internet payment processing in Hong Kong," said Gregory Pek, president and CEO of First Ecom. "By outsourcing Internet payment processing to First Ecom, Wing Hang Bank will not only give its merchants fast access to markets, but also avoid the significant time and expense in both technology and human resources, which would otherwise be required to develop an in-house processing system."

"Thanks to this strategic partnership, we are allowing our customers to enjoy online shopping without worrying about payment security. We expect to launch this service in the next quarter," said Patrick Fung, Chairman of Wing Hang Bank.

About Wing Hang Bank

Founded in 1937, Wing Hang Bank is now one of the leading financial institutions in Hong Kong offering a diverse range of banking services to meet the needs of its customers. To date, the Bank has a network of over 40 branches in Hong Kong, Macau and China with total assets of over HK$50 billion (US$6.4 billion). The Bank strives to become "The Preferred Bank" for its customers and commits to continually improving its service quality. For more information, visit: http://www.whbhk.com.

About First Ecom.com

As a global provider of electronic payment processing, First Ecom.com provides secure, easy-to-implement and low-cost online payment processing services to banks and their merchants worldwide. Through strategic partnerships with banks, ISPs, e-commerce product suppliers, system integrators and storefront solution providers, First Ecom.com will process credit card transactions made over the Internet in multiple currencies, either domestically or offshore in a tax-neutral jurisdiction.

For more information, visit http://www.firstecom.com or contact First Ecom.com at (852) 2801-5181 or by e-mail at info@firstecom.com.